Responsive Image Banner

Indonesia to break ground on US$2.7bn housing project

Premium Content

It has been reported that Indonesia will begin building apartments worth US$2.7 billion for its new capital city on Borneo Island in the second quarter of the year.

Indonesia plans to move its capital city (Photo: AdobeStock)

The country announced back in 2019 that it planned to move its capital city from Jakarta to a new area in Indonesian Borneo. The new city, named Nusantara, is estimated to cost US$32 billion

Reports suggest that authorities have already started building basic infrastructure in the area, with an aim to start relocating some government administration and civil servants in 2024.

Bambang Susantono, head of the Nusantara National Capital Authority, said his office was in negotiations with three private developers for the housing project — a consortium of China’s CCFG Corp and a firm Risjadson Brunsfield Nusantara, South Korea-based firm Korea Land and Housing Corp and local developer PT Summarecon Agung.

Indonesia plans to build 184 apartment towers for about 14,500 civil servants, military and police personnel under a public-private partnership, added Susantono.

STAY CONNECTED

Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

Longer reads
What machine sales tell us about the state of European construction
There are signs of a recovery – albeit a fragile one – in the European construction market
Why is LiuGong Access betting on new telehandler range for growth?
Telehandlers have never truly taken hold in China - at least, not yet.
Inside Trimble: How the Caterpillar relationship is shaping grade control
After 23 years of collaboration, Trimble’s Chris Shephard explains how the Caterpillar joint venture is evolving to boost flexibility and innovation in grade control technology
CONNECT WITH THE TEAM
Andy Brown Editor, Editorial, UK - Wadhurst Tel: +44 (0) 1892 786224 E-mail: [email protected]
Neil Gerrard Senior Editor, Editorial, UK - Wadhurst Tel: +44 (0) 7355 092 771 E-mail: [email protected]
Eleanor Shefford Brand Manager Tel: +44 (0) 1892 786 236 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA